Global Biosimilar Monoclonal Antibodies Market Growth Rate

The global biosimilar monoclonal antibodies market is expected to decline from $3.21 billion in 2019 to $3.04 billion in 2020 at a compound annual growth rate (CAGR) of -5.18%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $7.18 billion in 2023 at a CAGR of 33.13%. The prevalence of chronic diseases is expected to drive the biosimilar monoclonal antibodies market. However, stringent regulations imposed on approvals of biosimilars is anticipated to hinder the growth of the market.

The biosimilar monoclonal antibodies market consists of sales of biosimilar monoclonal antibodies and related services by entities (organizations, sole traders and partnerships) that produce biosimilar monoclonal antibodies, which are used to treat patients with chronic diseases such as cancer, rheumatoid arthritis, and autoimmune disease. Biosimilar monoclonal antibodies are highly similar to actual monoclonal antibodies in terms of pharmaceutical quality, safety, and efficacy, and are used to boost immunity by identifying and neutralizing foreign bodies. The market consists of revenue generated by the biosimilar monoclonal antibodies companies by the sales of these products.

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The global biosimilar monoclonal antibodies market is further segmented based on type and geography.
By Type: Synthetic Chemicals, Biopharmaceuticals, Others
By Application: Chronic & Autoimmune Diseases, Oncology, Others.
By Geography: The global biosimilar monoclonal antibodies market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Trends In The Biosimilar Monoclonal Antibodies Market
The focus areas for many companies in the biosimilar monoclonal antibodies market has shifted to mergers and acquisitions to acquire more production capabilities. Large prime manufactures are forming joint ventures or buying small or midsized companies to acquire new capabilities or to gain access to new markets.
Biosimilar Monoclonal Antibodies Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides biosimilar monoclonal antibodies market overviews, analyzes and forecasts biosimilar monoclonal antibodies market size and growth for the global biosimilar monoclonal antibodies market, biosimilar monoclonal antibodies market share, biosimilar monoclonal antibodies market players, biosimilar monoclonal antibodies market size, biosimilar monoclonal antibodies market segments and geographies, biosimilar monoclonal antibodies market trends, biosimilar monoclonal antibodies market drivers and biosimilar monoclonal antibodies market restraints, biosimilar monoclonal antibodies market’s leading competitors’ revenues, profiles and market shares. The biosimilar monoclonal antibodies market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.